Congress OKs increase for NFIP borrowing authority

Insurer groups have expressed their approval of votes by Congress to increase the National Flood Insurance Program's borrowing authority by more than $9 billion to pay Hurricane Sandy-related claims. "PCI and our members are committed to helping the citizens affected by Sandy. This additional funding for the NFIP is necessary so insurers with NFIP claims can continue to help these citizens. We are pleased that Congress acted today and that a vote is planned for additional relief on January 15," PCI's Nat Wienecke said.

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Insurance Networking News · Star Tribune (Minneapolis-St. Paul, Minn.)

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